The Franchise King Blog

Automobile Franchise Agreements To Be Terminated? But How?

                                                                                                                                   

{Franchise-Dealer Grim Reaper}

In 2001, I was downsized from a management position at a Cleveland area automobile franchise. I was somewhat surprised, but the decision made by by the owner of that franchise back in 2001, helped me get where I am today.

I was in a real uncomfortable situation at that franchise, and although it was a huge relief when I was finally let go, it did not make the fear of "now what the heck am I going to do," go away....probably the same feeling that some of the 2,000 automobile franchise owners that may be closed up could be starting to get to know, intimately.

Cleveland Franchise Consultant Breaks Bread With The Fed

                  

Breaking bread with The Fed is really what I said.

Yesterday, I joined 24 other Cleveland small business owners at The Federal Reserve Bank of Cleveland, one of 12 Federal Reserve Banks in the US. The Federal Reserve Bank of Cleveland participates in trivial things like interest rate reviews, inflationary discussions, and everything else that has to do with the way money flows in our country.

The food was great, the historic building was awesome, and local area small business owners shared their concerns. Read.

Don't miss another article. Subscribe!

Pizza Franchise May Give Its Franchisee's Loans

                                                 

Domino's Pizza, a large public company, and a franchisor, posted a weaker-than-expected quarterly profit due to a sharp drop in U.S. sales, the biggest independent U.S. pizza chain said on Tuesday, and its shares fell as much as 19 percent.

Like other pizza sellers, Domino's has faced weak domestic demand and higher costs for items like wheat and cheese. At the same time, U.S. consumers are more likely to prepare their own meals at home to save money. More...

According to Wall Street Journal, Domino's said it will save its cash and potentially make loans directly to its franchisees, because of the current credit crunch. Read a little.

Do I smell some good PR opportunities, here, or, is that just the pepperoni sizzling...??

Will a Solid Business Plan Help You?

More on franchisee credit problems. Read the story.

As The Franchise Cookie Crumbles Continued

                                                       

In August, I wrote about the Mrs. Field's franchise organization's bankruptcy filing:

"The Mrs. Fields Cookie franchise chain has just filed for bankruptcy protection, and according to corporate, one main reason is the decline in customer traffic at malls. The filing also said the company has experienced a number of franchise store closings since its 2004 fiscal year, and this trend has continued throughout fiscal 2008. Mrs. Fields may need to close more stores in the future, according to the filing."

Well now, according to The Wall Street Journal it seems that the Mrs. Field's yogurt division, TCBY is up in arms over the filing.

US Financial Problems Solved; Get Payday Loans!

Since there seem to be so many Payday Loan franchises out there, maybe we can visit them all at once, and bail ourselves out of this mess. I have heard no better ideas as of today.

Do You Want A Cutting Edge Slide Show Too? Here.

The International Franchise Association's Stance On The Proposed Bailout

The International Franchise Association {IFA} has decided to take a stance on the administration's proposed financial bailout of Wall Street, and it's close cousin's, the mortgage companies. Here is part of the letter that the IFA sent to every member of Congress:

"Congress must act quickly to remove bad debts off balance sheets and ensure that financial markets can be stabilized so that credit will continue to flow to U.S. consumers and small businesses,” IFA President & CEO Matthew Shay said. “Franchised businesses rely on stability in our financial markets to ensure that affordable financing is available, and many franchisees purchase their businesses using a combination of personal savings, investments and borrowing.  They will definitely face a more challenging future if Congress fails to act.”

As The Franchise Cookie Crumbles

Mrs. Fields is going on a serious diet. A diet that will consist of not being able to open a lot of new franchises, for starters.

One example of a hurting economy is the trend down in consumer spending.In this case, cookie buying.

The Mrs. Fields Cookie Franchise chain has just filed for bankruptcy protection, and according to corporate, one main reason is the decline in customer traffic at malls.

The filing also said the company has experienced a number of franchise store closings since its 2004 fiscal year, and this trend has continued throughout fiscal 2008. Mrs. Fields may need to close more stores in the future, according to the filing. Read this article from CNN.com.